Bitcoin's Hash Rate Rebounds From January Lows Ahead of Difficulty Hike
Bitcoin's hash rate has recovered to 535 EH/s over the past six days, as per the seven-day simple moving average (SMA) from Luxor's hashrateindex.com. The three-day SMA reflects a peak of 559 EH/s, while the 30-day moving average sits at 522 EH/s.
The seven-day indicators signal a 10.99% increase from the local low of 482 EH/s that caused block creation times to slightly exceed the standard ten-minute interval.
Block times are currently fluctuating between eight minutes and 52 seconds to nine minutes and 21 seconds. With block intervals trending below the typical ten-minute mark and the hash rate showing signs of recovery, the upcoming network difficulty adjustment, estimated to occur around February 2, 2024, is likely to see an upward adjustment.
